Ken Frazier ends his 29-year tenure at Merck on a sour note, revealing a dip in sales in his final earnings call
After 29 years at the company, Merck CEO Ken Frazier is saying farewell on a sour note.
In his last-ever earnings call on Thursday morning, the soon-to-be retiree shared that Merck’s revenue dipped 1% in Q1, missing analysts’ expectations and becoming the latest in a string of disappointing earnings results from Big Pharma.
Frazier steered Merck through a rough Q1, marked by the company’s decision to scrap its Covid-19 vaccine programs (and later a Covid therapy licensed from OncoImmune), a CRL for crown jewel Keytruda in triple negative breast cancer, and a withdrawal of the blockbuster’s approval in metastatic small cell lung cancer.
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